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August 02, 2019

Do School Catchment Zones affect the value of your home?

Would you spend more money for a property, whether purchasing or renting, to be in the catchment area of a top performing local school?

For many parents looking for a family home the short answer is yes.

Let’s take a look at what you need to consider before buying or applying for that house.

 

What is a school catchment area?

A school catchment area is a defined area – typically around a state school – where you must live to have your children automatically enrolled. The boundaries are defined by the school and can change over time, depending on student numbers, overcrowding and changes to local demographics. The main reason for having catchment areas is to maintain class size targets, and to service the needs of in-catchment families.

If you are outside the catchment area of a school you can still apply to go there – you are just not guaranteed a place. Your child will typically go on a waiting list, and you may even need to attend an interview to justify them attending the school. Private, independent and Catholic schools can also have less formal rules on catchment areas, and may take your location into account when considering your application.

 

Is there a correlation between property prices and school catchment areas?

Families want the best for their children, and first on the list for many is a top-notch education. According to RP Data, households with children make up for over 59% of the Goulburn population. With many searching for their next home, criteria can include locations close to the schools of their choice.

According to Domain’s School Zones Report, in the main cities of Australia, properties in prime school catchment areas can sell for up to 10% to 15% more. The report found that property price growth near top schools was significantly higher than the average growth rate of the rest of the city.

From recent prospective buyer & tenant activity it seems the demand in the Goulburn residential market is influenced by school catchment zones, but it doesn’t appear that it is as significant as it is in the major cities.

 

Buying a property in a school catchment area

If you are considering a property purchase based on a school catchment area make sure you do your research.

Particular postcodes are not guaranteed to perform because of a school, and factors can change over time. Schools alter their catchment areas periodically – called rezoning – to keep a handle on numbers. So a suburb or property may slip out of a catchment area, or be included if the school expands their catchment area. You also need to track the performance of a school – a change in headmaster could impact academic results for the better or worse.

The safest way of securing a spot in a local school is to find out the current school catchment zones and buy/rent a property that is well within the geographical boundaries. Obtaining a property in a fringe location and you could find yourself excluded if the school shrinks its boundaries.

 

Schools in the 2580 postcode

2580 Public Primary Schools:

Goulburn Public Shool

Goulburn East Public School

Goulburn South Public School

Goulburn West Public School

Goulburn North Public School

Wollondilly Public School

Bradfordville Public School

The Crescent School

 

2580 Public High Schools:

Goulburn High School

Goulburn Mulwaree High School

 

As you can see, there are plenty of schools servicing the areas of the Goulburn 2580 region. You can find schools in your local area here: https://education.nsw.gov.au/school-finder

If you are looking to purchase, rent or sell a property within the 2580 postcode, contact our friendly team at First National who have all the local expertise to assist you.

 

Article inspired by Brad Bell Real Estate